Company registration number. 3240655 Charity registration number. 1057949 Young Devon (A company lknlted by guarantee) Annual Report and FlnarKlal Ststemonts for the Year Ended 31 Marth 2024 Young Devon Contsnts Rèference and Admlnlstrative Detai18 1to2 Strategic Report Trustses, Report 4t015 Independent Audltors, Report 16to19 Con801dated Statement of Flnandal Acuvltles 20 Consolldaled Balance Sheot 21 Balance Sheet Consolldated Stat8mont of Cash Fl 23 statement of Ca8h Flow8 Note8 to the Flnanclal Stalements 25to40 Young Devon Reference and Admlnlstrative Datalls Charity R•g18tration Mumbor 1057949 Company Reglstratlon Numb•r 3240655 Prlnclpal office and rngl•ter•d Offlc• 10 Erm8 Road Ivybridge PL21 OA8 Th• tru•tO08 R Hastlngs S Warren•Brown C Coward A Hannaford V Flower L Brown T SlmmorKIs M Chapple L Borg Audltor Westcotts (SW) LLP Chartered accountants & 8t8tutOry 8udlior Ptym House 3 Lonobrldge Road Marsh Mllls Plyrnouth Devon PL6 8LT Bankern Uoyds Bank pl Fore Street Ivybridge Devon PL21 OAB Page 1 Solldtors Fool Ansley Senate Court Southemhay Gardens Exeler Dwon EX11Kr Page 2 Young Devon Strateglc Report for the Year Ended 31 March 2024 The following sectlons for achievements and wf0m￿nCe and flnancial review fonn strateglc report of th8 charity Trustee•. responslbllltles statement The trustees (who are also the dlrectoys of Young Devon for the purposes of company law) are responsible for preparing the trustees, report and the financlal statements in accordance wlth appllcabl8 law and United Klngdom Accounting Standards {Uniled lfjngdom Generally Accepted Accountlng Practlce), Includlng FRS 102 Yhe Flnanclal Reporung Stsndard appllcable In the UK and Republic of Ireland.. Company law requlres the trustees to prepare financial statsments for each financlal year. Under company law the trustees must not approve the financial ststements unless they are satisfied that they give a true and falr vlew of the state of affalrs of the parent charftable Company and the group and of the Incomlng resources and applicatlon of resources, Includlng its income and expendlture, of the charitable group for that period. In preparlng these financial statements, the trustees are requlred select suitable accountlng poll¢ies and apply them consistsnlly. observo the methods and prin¢lple8 In tha Charftles SORP; make Judgements estlmatss that 8re reasonable and prudent; State whether appllcable aGcounllng 8tandard8, comprlslng FRS 102 have been followed, subject to any materfal departure8 dlsclosed and explalned In the financlal 8tatem8nts; and prepare the finanGI81 slatements on the golNJ concern bas18 unless it Is inapproprfate to presume that the parent charltable company will contSnue In business. The trustees are responslbl8 for ke8plng proper accountlng records that can dl8do8e with reasonable accuracy at any tlme the financlal posltlon of the parent charltable company and the group and enable Ihem to ensure that the financial statements comply With the Companies Act 2006. Tt*y are also responsible for safeguarding the assets of the parent charitable Gornpany and the group and henc6 for tsking reasonable steps for the prevention and detectlon of fraud and other Irregularitles. The trustees are responsible for the maSntenance and Integrlty of the corporate and flnancial Information Induded on the charitable comp8nls ￿￿bsite. Leglslation goveming tho preparatlon and dissemlnalion of financial statements may dlffer from leglslallon In otherJuri8dlctlon8. Audltor Each trustee has laken steps that they ought to have taken as a trustee in order to make Ihemselves aware of any relevant audlt Information and to establish that the chariils auditor is aware of that Infomiation. The trustees confim that there Is no relevant Infomiatlon that they know of and of whlch they know the audltor 18 unaware. The trustees, annual report and the strateglc report was approved by the trustees of the charfty on . and signed on behalf of the board of trustees by: V Flower Trustee Page 3 Young Devon Trustees. Report The Trustses present thelr annual report and Ihe consolldated financlal statem8nts of the charlty and its subsidiary Young Devon Trading Limited for the year erKl8d 31 March 2024. They are satiSf￿d that the Financial Statements compty wlth the requirements of Ihe Charltles Acl 2011, the Mémorandum and Artides of Associallon and Accountlng and Reporting by Charllles: Statement of Recommended Practice appllcable to charilies preparing their actounts In accordance wilh the Financial Rep(xtlng Standard applicabl8 In the UK and Repubk of Ireland (FRS 102) (effectN8 1 January 2015) - (Charities SORP (FRS 102)). ObJ•ctlvos and Actlvllles Our objectlves as a charity are descrlbed In our g)vemlng document as: to help young people develop thelr physical, mental and splrftual capadtles so thal they can develop as Indlvkjuals and members of sodety: valulng and respecling relatSonshlps wlth them that recognise thelr flghts and responsibilttles and actlvely promoting each individual's development, choiGe and change. In partlcular, but not 80 as to Ilmlt the generallty of the foregoing: {1) To brlng together people who are wllllng to further the above objects lo stlmulats Interest In all aspects of work with young peopla {2) To work directly wlth young people. especlalty those who are vulnerable or marglnauzed wlthin thelr own communltles. provlding seNlce8 and tralnlng whlch enhance thelr per80nal d8v8loprnenl and genaral well-b8Sng {3) To untte and support the worf( of those youth organlsatlons, dubs and grou￿ In the geographlcal county of Devon, ththosa prlmary purp08e8 are in accordanc8 wlth thosé of the Company {4) To develop tralnlng, volunleerfng and other servlces whlch Inform and support olhers who work wlth young people In furth8ranGe of th8 above purposes {5) To carry out re8earch and develop 8tratsgl88 h partnershlp with others whlch lead to the development of good youlh work pradlcé Our Vl•lon Young people Ilvlng 68f8r, happler and healthler Ilvas wlth batter long-term prospects a8 they Into adufthood. Our Mlsslon Changlng the odds In favour of young people Our Valu•s Over recent years we have worked to develop our urKlerstandlng of tho IMp￿￿nCe of relatlonshlps to our WOTk and the necessty to respond in ways that recognlse trauma experienced by the young people we help. These values are: Klndn6ss: We are welcoming and acceptlng. we lislen first to understarKI your story. Collaboration: We work together- with young people and bMth partners- to find the best solutlons. CommltmenL. We are determined to make a difference and to rnake sure your voice is heard. Authentlclty: We'll be honest. realislic and d8ar. Inclusivity: It doesnl matter who you are or where you're from, you matter here. Page 4 Young Devon Trustees. Raport (contlnued) Publlc Benefit The Charty's Trustees have complied with their duty in Section 4 of the Charities Act 2011 to have due regard to the Publlc Benefit guldance issued by ts Charity Commission. The Trustees do not receive any prlvate benefit from the Chatlty. The activltles employed by the Charity In pursuit of Its fwe strategic obleclives are set out in strateglc and service reports. The public benefrt outcomes identified by the Trustées have I￿n bullt on the following: 1. Bullding qUa￿ty relatlonships to he￿ young peopl6. 2. Make young people's volces heard in declslon making across Devon. 3. Improve the rarvJe and quallty of acwmmodatlon for people. 4. Increase access lo mental heafth and weil-belng servlc8S. 5. Enabl• yourg people to develop the skSlls they n•ed to progress In Ilfe. Wlth the exceptk)n of our Supported Houslng and Supported Lodglngs 8eTvIGg8, ￿ere young people partlally contribute to the cost of the accommodation through the beneffts 8y8tem, all of Young Devon's 8ervlces are free at the polnt of dellvery to ensure that the charlty does not dl8¢rlmlnate agalnst Indlvlduals who coukl not alTr)rd the 8ervke. Our 8trategy18 founded on the under8t8ndlng thet relationships can be transformational at any stage of life. Done wall, they have the power to brlng health, happlness 8rKI a wealth of opportunltles. ThrouglKJUt all of our WOTk we alm lo develop the klnd of good qualty. stable, therapeutlc 8UPPOrt young people need to overcome their experienc88 of trauma and develop lh8 confidence arKI agency to lad(le Ilfe's challenges. Our commltrnent to relallonshlp8 also extends to how wa collaborate alongslde fundars and partners to 8nsure are meetlng the needs of local young people arKI communlt16s as wetl 88 we can. We contlnue to Increase Ihe number of projects we dellver in partner8hlp wlth other local charitie8, provldlng young people wlth more optlons wlth how they can get help when needed. Durlng the year we have contlnued to work on our core strategic actlvlties: Accommodallon: Followlng the ¢r•allon8 of now Of8ted regulations ¢overing 8UPPOrted accommodatlon for 16 and 17 year old care leavers, we have Invested In new roles and systems whlch wlll ensure that the ac¢ommodatk)n 8ervlce8 we provldo for all young people are th8 be8t we can dellveT. Thls work Is underplnned by our devek)pment of a 8lngl8 accommodatlon servl¢e from prevlous houslng and lodgings servSce8 and has Involved us creating new roles and procurfng a new software system dedicated to Gapturlng all of the support processes we use. and providing clear oversight of our safeguarding and compliance requirements. Thls investment and preparatlon has set us in good stead, and we were one of the first providers in the South West to achleve registered slatus. AlongsSde continulng to provide safe accommodation support to over 100 young people a night we have recognlsed the Increaslng demand for young people's accommodatlon as well as the need for Page S Young Devon Trustees. Report (continued) speclallst support to young people who hava oxperien(*d trauma. In order to meet thig need the Charlty18 embarking on iwo ambltiOU8 and exclting projects: The purchase of a dlsused shop bulkllry to convert Into four fiats to provlde therapeulic support to four young people with complex neads. A partnership project to refurblsh and provide 47 onfrbed flats wlth support to home18SS young people Wellbelng: Our wellbelng teams have continued to develop arml dellvar a range of services. The core of this work is a range of eady help 8UPPOrt comprlslrvJ of counselling. cognilive behavloural therapy. menlal health youth work and open access work This is delivered across Plymouth, Devon and Torbay local authority areas. wlth help belng provlded to young peopl8 In Schools, YES centres and In other communlty settSng8 Ihroughout th• county. Abngslde our early hdp work we have provlded s￿dalist wellbelng servic86 Including the young peijple's ￿￿tIm8 of Crime servlce for Devon and Comwall. Soclal PrescriblrvJ for young people In Devon, Youth Work and Wellbelng Support for Iho CEW Gllnk at Derrlford Hospltal and contlnued to develop new approaches which enable young people to got quld(er acce88 lo help and In th8 best way for them, Indudlng: Partngrfng wlth a number of PCNS (Prfmary Care Networks) lo pS10l mental health youth workers to provlde early Int8rventlons and access to acllvliles whlch dlvert young people away from requlrfng extra suppart. Worklng alongskle Devon County Councl to pllot 8UPPOrt for young people WIK) have been victim8 and wltne8se6 of domestic abuse. A pik)t project introduclng young people'8 Social Pr68cthng to schools and communlty 8ettlng8 in Plymouth. Skllls: Our 8klll8 work encompa8908 a ￿018 range of actlvltla8 from youth dubs and 8treet&8ed youth work to post 16 cours88 wovldlng functlonal maths and Engllsh 88 well a8 work-based 18amlng and Independent livlng skllls. Our post 16 courses have been a Ilnanci81 challenge to dellvar for a numbér of year4 and yet recognlse the transforniatlonal dfjfferenc8 the8e are havlng for small groups of young people who rnlght otherwhe have no rcxrte to retum to educafjon. Post-covid tha plcture rem8ln8 as young people struggled to re-adjust to accessing 18amlng. Young people ￿th anxiety andlor those wlth neurtrdlverslty have particularty struggled In mairtheam educatk)n and some even IlrKI ft hard lo adjust to small groups. Success In our courses has been mlxed wtth one of our thrne ¢entres havlng low numbers arKI the others belng Inundated with referrals and requests to the polnt where we have had to open additional classroom space to aG(x)mmodate the number of students. Allhough a relatlvely sm811 part of our worK we remaSn committed to Ihe delivery of open access youth provlsion and belleve It 18 a foundalion stone for the 4vellb8ing and development of many young people. Our work at Sidmouth Youth Club and through street-based work in Telgnbrfdge and Plymouth has Seen an increase In the number of young people we have been able to engage In positive activities and informal educatlon. Page 6 Young Devon Trusteas. Report (contlnued) VolGe: The work to ensure that young people have a volce In the decisions that affects them continues to be a core element of our ethieAI approach as a chaiity. During the year we have been able to support young people wlth advocacy as they need support navigating the care system and transltlons to adult seNlces in partlcular. Throughout th8 year we have supported young people to engage In county4*ide partldpation so that they can have their say on critical issues Such as mental health servlces. Working alongside colleagues from Devon County Council in partlcular has allowed young peorAe to present thelr vlews to local partners and decisk)n makers. We have aso engaged young people In using creat5ve technlques lo revlew mental health palhways. During 2023 we achieved a long temi ambltion to create a palhway lo the Board of Trustees for young people wlth Ilved experlences of the 8ervlces Young Devon dellvers arKI were dellghted by the appolntrnent of two new trustepB who have helped us realise th18 vlsion. R•l•tlon•hlp8 at th• hgart: We strlve to ensure that good quallty relallonshlps remaln central to all of our work.we know that for young paople who have 8xperfenced trauma, a trusled rel8tionshlp 58 often one of the most Important steps on tha palh to wellbeing. Increaslngty, we are applylng Ihls same approach lo our project Work and are dellverlng more work In partnershlp wlth other ¢xgan168tlons than ever before and value the diverslty and sharing of good praclice Ihat this brlngs. We have been proud to dellver work supportlng Victlms of Crfm8 and DOrr￿stIC Abuse by partnerlng wlth: Young People Comwall; Space Youth Servlces: Exeter Communlty Inltiatives; Kooth; Clear Counselllng; and Th8 Zone. Plymouth. We have al80 delfvered the In Reach hospltal support servlce worklng alongslde: The InterGom Trust: Encompas8 Southwest; Space Youth SeDAce8 and The Zon6 Ptymouth. Acces8lng our Staff and our sorvlcu: All our staff are based In community bulkllngs In Devon (Ivybrfdge, Newion Abbot, Exeter, Sklmouth, Bam8tapl8 & Ilfracombe), Ptymouth and Torbay. Infomiatlon about the charlty and th8 8&rvlc88 we delfver can be found vla Our webslte www. un von.0 A range of soclal media pages via Facebook lyoungdèvonoffldal, YouTuba fyoungdevon1, Twltter @youngdevon. Instagram fyoungdevonoffidal & Linkedln lyoungdevon A Freephone number for: Young people 08082 810155 oency referrals 08082 810144 A range of proniollonal materials for our servlGes dlstrfbuted through schools, other partner agencSes and communlty settings. Page 7 Young Devon Trustees. Report (continued) Achlev•ments and P•rfornianc• During the 2023-2024 reportlng year we have worked Imth more than 5000 young people. As ever the support given vafles wldety: some yourKJ people might eryge in a handfull of support sessions through our wellbelng seNice, some have attended a youth dub weekly throughout the year, been part of a 12 week part time course or Ilved In our accommodallon for the antlrè yèar. Regardless of the settlng, our tthqms provld8 person-centred support and work alongslde young people to put in place a plan for progre881on which recognises their skills and challenges. Here is 80me of our year In numbers: Supported 5020 young people Delivered 12500 wellbeing sessions Tr -J 403 young people took part in youth worki partlcipatlon and sexual health activiti88 191 young people learnt on courses Provided 201 young people with v fi safe, stable accommodation over 35,000 bed nightsworth! Helped 712 young people who would have been homeless, 74% had a positive outcome Page 8 Young Devon Trustees. Report (contlnued) Project focus- In Reach Our project to provide a trusted youth work relationship to youro people who are remaining too long in hospltal for a variety of reasons. Thls project has been in place for Just over a year and utiliP￿ a range of youth work aclivities to allow young people to set their own goals and work towards them. Having listened to the transformational storles of young people had accessed the support we worked wlth NHS partners to understand some of the broader impact of the seNice and were delighted to see the phenomenal difference that the teams are making to both indivlduals and hospitals whlch ar8 able now to alk)cate resource where It's needed most: M••tsurfNg•urlmwt 89% ro.duotl p',lÉt•ndanc•*' 680/0 reduction in inpatient admissions. ,Ih•g.9.'611 Relatlonshlps Each year we ask young people aGro88 811 of Young Devon's 8errfice8 to complete a Sat of quality Indlcators to help u8 understarKI w811 we are dolng In bulldSng the klnd of trusted relatk)nshlp we believe can make a dlfference in young peoples, liv6s. We ask If young people trust the support stsff they work wlth, whether they ￿r8 satlsfied by the support they recelved arKI also whether Ihey ar8 satlsfied with the progress they are maklng. W8'r8 aware of the slgnlfic8nt nuances whlch can be conferred by the second and thlrd questlons In partlcular. Including the dlfferent pace and level of support across sep41ces, nevertheless, thes8 indlcators have remained Incredibly posltfve for the four years since we began measurlng them. This year's results are: 95% trusted their support staff 92% were satisfied with their support '}// 83% were satisfied with their progress Page 9 Young Dovon Truste8s' Report (continued) The first two have Increased by a percentsg• point c(xnpared to last year whllst the thlrd Is down by a pdnt. Th888 ar• probabty too small a margin of chango to infor any particular messages and so wa will continue to monitor and revlew how we can ensure young people aré getting the support they Flnanclal Revlaw Durfng the year ended 31 Marth 2024 Young Devon achieved tolal incoming resources of £4,919,437 (2023: £5,246.268) of which £1,169.761 was restrlcted (2023: £1,581,353) and £3,749.676 was unrestricted (2023: £3,664,915). Resources expended were £4.994,155 (2023: £5,162,494). The overall posltlon at 31 March 2024 Is a net decreaso in furKls of £74.718 {2023: Increase of £83,774) whlch resulis In total funds brought foTW8rd of £1,469,086 of %thlch £53,316 are restrlcted. Publlc Sector fuThJlng from a rang• of 80ure•8 r8pr8santed our maln sourc• of èxe4tional one year funding from a varlety of NHS sources ID exce&8 of £1.2M Includlng Income from Devon Partnershlp Trust of £620.395 arHI NHS Devon ICB of £438,205. LcKal Autt• contlnuos to provlde 81gnlllca amounts of fundSng for the organlsatlon, Includlng Income from Devon ￿nty Councll for a range of servlces which totslled £888.608. Tort)ay thncll Income of £568.780 and Exeter Clty Council of £242,339. Our work In Plymouth was predomlnantty fund8d through The Plymouth Complex Needs Alllance %thlch contrlbuted £288.090. A slgnlfkant portk)n of the funds relates to the houslng of young people In a¢commod8tlon. but Income al80 Indudes fund8 for tacklng homelessness and young paople's mental health and wellbelng. The Charlty alms for full costs recovery on fund8d projects wh8r8var posslble but certaln projects wlll never be self4UStaining, as a r•guIi we look to dlverslfy Income stream8 to cover shortfalls In actlvltle8 Ich form an e88entlal part of the charSty'8 alm8 arKI obJectlve8. Rosorv•• pollcy The Trustees have con8ldered the opor811on818nd finanGlal rbks and the level of re8erv88 requlred. We have consldered our potentlal radundancy Ilabllity, should the charlty ceaso to exlst, and our Immedlate lease commftrnents (wtthln 12 mnths). Th18 amounts to £837,419. In the event of a crlsls tuatlon we would seek to negot￿18 wlth our funder8 and landlord8, In addition In the event of a servlce belng transferred elsewhere TUPE would apply for the majorlty of Staff, a8 such It18 unllkely that r888rrf8s of that18vel would be rnquirnd Taklng thls Into a¢¢ount. th• Tru8te88 consld8r an approprfate16v81 of res8rves woukl be £750,000. Ywrg Dovon has unre8trfd8d reserves of £1,465.393 whlch InclLKles 88ven properti88 (not of mortgag8 Ilablllty) of £1.186.200. which represents the strength bullt Into the balance sheet followlrvj the declslon to Invest In propertles over precedlng Ilnancial yea￿. After deductlng £75.000 of designated funds, there Ss a remalnlng balance of £240,193 in reseTves immediately available. Any remalnlng lease commitments beyond the 12 months slated above would be covered by the sale of properties. Rlsk Management Pollcy The Board of Trustees is responsNI o for the ¢xganisalion's systems of intemal control. Includlng rlsk management. The Chief Executive is the accountable officer who is responslble for the management of systems of intsrnal wntrol arKI the implementallon of policies set by the Board. The Flnance & Page10 Young Devon Trusteas. Report (continued) Rlsk Management Sub-Group of the Board monitors and scrutlnises the budget. accounting practice and financial performance against b￿1get. The Young Devon Strategic Plan determines the dIreCtk￿ of the Organisation. Operations and day-tO- day manag8ment are determined by financial r8gulation8 and intsmal controls are supervlsed by th8 Chief Executlve. wlth support from the Head of Flnance and finance tearn. YourYJ Devon is now Ofsled Registered for the provislon of supported accommodation to 16 and 17 year okl looked after chlldren and care laavers. Thls means we have implemented new onllne systems and Invested In OA and registered manager posltions to ensure a good quality of provlslon for young people and a robust management of the risks Inherent In reportlng effectively to Otsted. We aim to review and evolve our risk management framework annually lo ensure that we are comprehenslvely caplurSng rfsk across a range of categorfes; and so ensure that our reglster Is fulty updated; new risks registered and explored in d8t8118t sub￿roUp level; wlth recorded actions needed to mltlgale agalnst the risks, reported through to the Board at every full board meetlng and, where relevant, spedfic meetlngs are called to respond to urgent rlsks. In addltk)n, the Board consklers the key risks to th8 organlsatlon when undertaklng strategic plannlng proce&888. The Charity maintains a Buslness Contlnuty Plan whkh b revle*¢d regularty wlth partneryd to ensure the efficacy of rlsk managemont plannlng. The Trustees have a responslbllty lo examlne potenllal high-level rfsk6 to the Charlty and Idenllfy approprlate mitlgatlng actlon for these rl8k8. To ensure thls tskes place the Flnance arKI Rlsk Sub- Group. which Indud68 at least two Trustees, the Chlef Executlve, Flnance Manager and another s•nlor manager, revlew8 8 strateglc risk matrlx and glves overslght to operatlonal level proces888. Th8 Board then revlews this document quarterfy. Key strategic ri8ks are a8 follows: Rellance on publlc sector fundlng: The majorlty of furKling comes through payments and contrads from publlc sector sources. Conslder8bl6 work has been undertaken to dlv8rslfy across dlfferent local autl)orSti8s, central Government fundlng and 8 broad range of NHS bod188. However, an overall reduction In Local Authorlty budgets, means that COntr￿ts and payments run th8 risk of ending. Mlnor reductlons across multlple contracts could result in substsntlal reductlon8 to Income. Tho Board manages this rfsk through a robust process of contract management and oversight of exlstlng and potential tenderlng opportunltles. In order to mliigate thls rlsk, the chaiity Is developing a strategy which wlll contlnue the work of dlverslfylng Income streams wlth work belng undertaken to revlew other potentlal optlons. Safeguardlng chlldren and vuln•rable adults: The charity supports a large number of young people and fewer vulnerable adults fadng a range of complex challenges. The reputational rlsk to the charity of mismanagement will alvrnys be high and thls is bolh managed through a Safeguarding Sub- Group comprislng at least two Trustees, the Chlef Execullve and Safeguardlng Lead Officer. Contlnual revlew of practlce, hlgh sklll levels and continued professional development of staff, responsfve prt)cesses and pro4ctive quality assurance measures mitigale the risk whlch Is aws monitored at Board level. The charity has Implemented a range of adolescent*ased safeguarding trainlng to ensure consistent levels of support which are relevant to the cohort of young people v support. The corporate risk reglster has also been updated to refiect the IncreaslrffJ Concems of staff and partners for young people with suicidal thoughts and plans. We have responded to this challenge wlth incr8ased levels of training for staff around suicidal ideation and the creatlon of an Page11 Young Devon Trustees. Report (contlnued) organisation-wide mental haalth framework to bulld the confidence of slaff %then SUPFthlng ywng people and adively engaging with our partner3 in thi8 work. Strat•glc plannlng: As a charity supp(xting the conW and changlng needs of vulnerable yourKJ people the lack of a clear and deliverable strategy is an ongolng rfsk. The IKArd Is managlng thls r18k through th8 Implementatlon of stratsglc plannlng and revlew processes on an annual basls end the rfsk is mitlgated through overslght of operating plans and KPIS which ensure that charStable objethes are being met effectively. Having emerged well Covi&19 delivery we are now facing more demand than ever and worklng to mitigate the rfsks of rising demand overwhelmlng services and servlces belng fit for purpose. Capaclty: At a strateglc and operatlonal level Ihe capaclty of our teams Is a rlsk. As we grow arKI adapt services, the overall structure of the Charity and tho 8cal8 and struclure of teams may r￿t flax quickly enough to respond to new 8èrvicè domands. Allled to th1818 the current risk of not belng able to recrult and retain SLfftient quallty arKI quanllty of slaff. We are managlNJ thls through Increaslng salaiios. as much as fuThllng allows, Invesllng In staff development and the wellbelng of tearns. A revlew of staff strudures and 8alarl88 18 due b8 undertaken by a staff group lad by tho Head of Flnance and HR Manager. Rlsk Man•g•m•nt We use a RAG (rad, amber and greon) oxcopllon r•portlng $￿tern to monltor and manage rlsk vla th8 Board'8 three su￿roupS. Heatth & Safety and Safeguardlng HR a Workforce D8vdopmant Flnance & Rl8k Th18 reptyrting fr8mewoth enables sp86dy oscalatkm of18sue8 and risks, wlth 8Ctlons and leamlng embedded throughout 8ldlng successful dellvery. Along8lde the r8vl8w of the governlng document the Tru8tee8 Intend to revlew the focu8 of SU￿rOupS to ensure that approplats tlme18 Spent ensurfng the Charity Is w•ll-led and the 8taff team Is supported to Idenufy and pursu& opportunilios for servke dèvelopment. Plan• for fuiur• p•rfod8 Ovar the next two year8 we have plans to: Develop a large housing project for 1&25 year old young people who would have been homeless in Plymouth. Develop Intemal QA and mock4nspectlon processes as preparatlon for ext8mal Inspéctlon by Ofsted. Revlew our p8rtlclpatlon palhways and reflect on how best to Invest In young people In thls workslream. Revlew our Wellbelng arKI Youth Enquiry Servlces alongslde youNJ people to ensure they are frt for purpose and suslalnable. Evaluate the pilot PCN youth worker model to understarKI the appropriat8 roxt steps. Page12 Young Dèvon Trustees. Report (continued) Structurn, Governance and Manag•m•nt G¢)vernlng document Young D8von Is a Company Limlted by Guarantee, having rK) Share Capital and being a Registered Chaiity that has elected to omlt 'Limited' from Ils working name. The Company was established under a Memorandum of Assodation. whlch establshed Ihe objects and powers of tha charitable company and Is govemed under Its Articles OfAssoc￿lI0n. Appolntm•nt of Trusts•s The Board of Trustees acts Jointly In both regist8r8d roles. Throughout the lasl year we have revlewed the membershlp and recTUited extemally to Ihe role of Chalr of Trustees. A skllls audit will now be undertaken with a view to plannlng for future appoSntments. Trusts• Indudl(m and Iralnlng Provlslon for the inductlon and tr8lning of Trustees Is led through the Chief Execullve and Chalr of the Board. Thls Includes the role of the Trustees, the strateglc Intentlon of the Young Devon Bu81ness Plan, a brSefing on 811 Se￿ice3 provided, the organlsation's financial poBltion, syslems, reportlng, management polides and healih and safety. The The Trustee Induction P8Gk and Prograrrrne, of Young Devon, underplns thls tralnlng. Publlcatlons such as The Essentlal Trustse: what you r￿ad to kno￿ {Ch8rlty Commission) and Ihe 'Good Gov8mance' pack (ACEVOINCVO) are 81so 188ued to new Trustees. Our Organl8atlonal Structurn Operational management is led by the Chief Executive who reports to Board of Trustee8. The Ser+/ice Leadershlp Group (SLG) comprfsed six Heads of Serrf￿ and three M8nagers who work alongslde the Chlef Executlve in rnalntalnlng quallty and forward plannlng. All staff report to the Chlef Executlve through agreed organSsatlonal structures. Our workforce consSsts of 175 full and part-time slaff (146.3 FTE) and 100 8UPPOrted and tralned volunteers, Intems & hosts. Young Devon's workforce operates from 32 loGatlons, provides floaling support lo other settlngs across Devon arKI undertakes outreach work across the county and WOTks In collaboration wlth statutory agendes, olher charitles and voluntary organlsatk)ns. At the end of 2023-2024 almost all staff received an exGeptlonal salarylwage Increase of 2% wlth the excepllon of small number of staff who recelvad larger Increments to ensure Ihat S8larles Increased to retain the National Lmng Wage Foundation'8 recommended Llvlng Wage. This Is the 7th year of incremental pay rises Intended to brfNJ the organisation In Ilne wlth market levels and all roles have received a cumulative increase of at le8St 17.1 Y• in thls time. During the same period tha ratlo of CEO to lowest paid role has been reduced from 5.26 to 3.16. Central support ￿rVICeS Underpinnlng the work of Young Devon are a range of support services establlshed to asslst our workforce in delivering to their full potential; as well as ensure that our work is constantly evolving to achleve the greatest impact in the Ilves of the young people we work with. Page 13 Young Devon Trust•as' Report (contlnuad) Quallty Managomgnt Wlthln the management structure of YOUNJ Devon. we have the fdlowlng 8y8tems In place to ensure hlgh quallty safe working practice by staff. This is achieved by: a c4mprehensive probation and induction process, monthty supervision and annual appraisal. wkle48nglng training and continuous profèssion81 developm8nt. regular tsam Th￿r￿JS and an open cultur6 encouraglng refiectfve pracllcfr. P•rfomianc• Managemant Wlthln the organl8atlon we have a perf0rn18nc8 manag8mant pokcy wlth a range of 8y8twn6 In pla¢• to establSsh targets and monitor the performance of staff. All staff have: mlnlmum of quarterfy 8upervl8lon an annual apprals31 and work plan proce88 management tralnlng to all stsff that have a Ilne manag8m8nt r8sponslblllty. logether wlth quarterfy HR workshops deliverSng In4epth tralnlng In areas Ilne managers have requested further support In Quallty A88uranrA Young Devon18 comrnltted to the Implementatlon of Its own Intemal quallty management 8yStem8 and processes, and those of Independent and external quallty awarding bodie8. In addS1ion. the organlzallon remalns commltted to developlng Incluslve practSce and supportlng the workforce to the best of our abilty and therefore hold the follo￿11ng slandards: Disablllty Confident Empbyer Mindful Employer Regulatlon for supporled accommodatlon servlces for young people18 In procoss by Of6ted and w• have Invested In a new Head of Practlce role to ensure that ￿ are able lo meet new compnance standards. Worlrfor¢• The Trustees know thal the slngle greatest as8et of organlsallon Is the Peo￿ who work here and the wealth of experlence Ihey brlng. We are fortunate erM)ugh to have slaff rnembeTS who have been with Young Devon for over twenty years and are also lucky enough to be regulaty welcoming new Staff, Students arKI volunteers with fresh eyes to help develop our work. The Trustees wlsh to thank 811 of the staff for contlnulng to deliv8r excellent levels of support to young people whllst also working to secure ongoing funding for various projects. The Servlce Leadershlp Group and the Trustees remain committed to looklng for creatlve and co- produced ways of ensuring the Y￿lIbeIng of all staff and have piloted the use of irKlependently fadlitated group supervislon for any staff member to a(ws. Page 14 Young Devon Trustees. Report (contlnued) Buildings and Physlcal Assets We continue to expand the number of buildings we use for the benefit of young people. Young Devon now works wlth and supports young people from 32 settings across Devon. Plymouth arKI Torbay; as young people contlnue to lell us that a place to go tailored for them is really important. We have continued to work with others In secuflng more physlGal spaces ring-fenGed for young pgople: and a programme of Improvement of our exlstlng settlngs. Last year, In addltlon to our cyclical malnlenance of all our supported housing projects, we have allocated resources to Improve: Ivybrfdge: 9 and 10 Emie Road (comprislng of our central office: base of supported lodglng and counselling teams" togeth8r wlth two unts of supported houslng). The buildlngs have been malnlained In servlceable corKlitlon. Ilfracombo: we have compleled the purchase of propertl88 to enable us to contlnue provldlng support for young people in the locallty. These bulldlngs ar8 In the final stages of belng renovatad to improve the offer for young people. N•wton Abbot: we have completed the purchase a now property to provldo young peopl& wlth good quallty accommodatlon, thls replaces a leased property in whkh we dld not feel we could Invest to Improve the 8larMlard to the level we felt was requlrod. Plymouth: we have purchased a slte compTi8ing of tK* empty 8hops, store rooThM arKI a flat wlth Ihe Intention of developing these into 4 slngle propertles (flats) for therapeutlG BUPPOrt to young people who would otheTwi8e have been hom81888. The key per80nnel wlth Young Devon are the Board of Tru8tee8, th6 Chlef Executlve Officer and Senlor Leadershlp Group. Th8 Trustees do not recelva remuneratlon and no TTUSte8s dalmed exp8n8es durirrfj the year. The annual report was approved by the tfUSto0s of the charfty on ..?/A(IAt...... and slgned on Its behalf by: Trustee Page15 Young Devon Independent Audltorfs Report to the Members of Young Devon Oplnlon We have audited the financial statements of Young Devon (the 'charttable parent companv) and Its subsld6arfes (the 'group'} for the year erKled 31 March 2024, whlch comprfse the Con801idalad Statemenl of Financial Activities, Cons0￿dated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, Slatement of Cash Flows and Notes to the Flnanclal Statements. including a summary of signifKant accounling policies. The financlal reportlng framework that has been applled In their preparalion is United Ffjngdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Slandard appkable in Ihe UK and Republic of Ireland. and appllcable law (Unlted Kingdom Generally Accepted ACC￿ntIng Practlce). In our opJnk)n tho fin8n¢l818tatements: glve a Ifue and falr vl8w of the stat8 cl the group'8 and parent ¢harW8 allalr8 a8 at 31 March 2024 and of Its IncomSng resourc88 and appllcallon of re8our¢e8, Indudlng Its In¢om• and expendlture. for the year then ended; have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Ac¢ountlro Practlce: and have been prepared In accordance wlth the requlrernents of the Companles Act 2006. Ba•ls for oplnlon We conducted our audlt In accordance wlth Intemath)nal Standards on AudltiNJ (UK) {ISA8 (UK)) and appllcable law. Our responsibilities under those st8rMlards are further descrlbed In the auditor responslbllrtle8 for the audlt of the finandal slatements section of our re￿rt. We are Independenl of the group In accordance wlth the ethlcal requlrements that are relevant to our audlt of the financlal statements In tha UK, Indudlng the FRC'S EthlGal Standard, arKI we have fulfilled our other ethlcal responslbllttles In accordance with these requirements. We belleve that th6 Audlt evklence we have obtalned Is sufficlent and approprlate to provlde a ba8ls for our oplnion. Con¢lu•lon• rglallng to golng GOn￿M In audltlng Ihe finandal statements, wa hava corKluded that the Irustees use of golng concem bas18 of accountlng In the preparatlon of the finandal statements is 8pproprlate. Based on tho work w• hav• perfomied. we have not Id8ntifi8d any materfal iincAbrtaintl88 r8latlng to evenls or condltlons that, Indlvldually or collectlvety, may cast 51gnlficant doubt on Ihe group's ablllty to contlnue as a golng concern for a period of at least twelv8 months from when the orlglnal financial 8ts1ements were authorlsed for Issue. Our responslbllltle$ aThl the re8ponslbllltl88 of the trustees wlth rnspe¢l lo golng concern are de8crlbed In the relevant Sedlons of thls reFth. Oth•r Inf0M￿tIOn The truste8s are responslble for the other Inf0m￿tIon. The other Informatlon comprfses th8 inf0m￿tIOn included in the annual report, other than the financial statements and our auditorfs report thereon. Our oplnlon on the Ilnancial statements does not cover the othgr inforniation and, except to the extent otherwlse expllcltly staled in our rewt, we do not exwess any fomi of assurance condusion thereon. Page16 Young Devon Independent Audltorfs Report to th8 Members of Young Devon In connection wlth our audlt of the financlal statements, our responslblllty Is to read the other Information and, In doing so, consider whather the olh8r inf0m￿tIOn is materlally inconsistent wlth the flnancial statements or our knowledg& obtalned in the audlt or othenNlse appears to be materially misstated. If VR identfy such material Inconsistencies or apparent matellal misstatements, we are required to detemiine whether there is a material misstatement in the financial stalements or a material mlsstatement of the other infomiatlon. If. based on the work we have perform8d. we condude that there Is a material mlsstatement of th16 other infomiatlon, we are requlred to report that fact. We have nothing to report In this regard. op1n1¢￿ on oth•r matt•r pr•$¢rfb￿ by the Companlo8 Act 2006 In our opinion. based on the work undertaken In the ccwrse of the audltr. the informallon glven In the Strategic Report and Tru8tee8' Rewt for the financial year for whlch the finan¢lal statements are prepared18 conslstent wlth the financlal Statements: and the Strateglc Report and Trustees. Report have been prepared In accordance ￿th appllceble legal r•qulrernent8. Matt•rs on whlch we aro requlrgd to r•port by gxc•pllon In the light of our knowledge and understanding of the group and the parent charltable company and Its envlronment obtslned In the course of the audlt, we have not Idenffied rnaterfal mlsstatements In the Strategic Report and Ihe Trustees, Report. We have r￿thIr￿j to report In respact of the followlrvJ matters where the Companles Act 2006 requlres US to report to you If, In our oplnlon: adequate accountlng records have not been kept by the parent charitable company. or rotums adequate for our audit have not been recelved from branGh8s not vlsited by us; or the parent charft8b￿ company financlal statements arn not In agreement wlth the accountlng records and returns; or certaln dlsd08ures of Irustee8 rernuneratlon speclfied by law are not made; or we have not recelved all the Infomiatlon and explanatlons we requlre for our audlt. R08pon8lblllt108 of truste•• As explained more fully In the Statement of tru81ees' responslbililies, th6 tru8tee8 are respon8lble for Ihe preparatlon of tho flnanclal stalements and for belng satlsfied that they glve a true and falr vlew, and for such Intemal control as the trustees determlne is necessary to enable the preparatlon of financlal stalements that are free from materlal mi5Statement. whether due to fraud or error. In preparfng the tlnandal Slalements, the truste￿ aro responsible for assessing the charws abllty to continue as a golng concern, dlscloslng. as appllcable. matters related to golng concom and uslng the golng concern basls of accounting unless the trustees either intend to Ilquidate the charity or to cease operations, or have no realistlc alternative but to do so. Audltor responslbllltles for the audlt of th• Ilnanclal stst•ments Our objectlves are to obtaln reasonabl8 assurance about whether the flnancial stat8m8nts as a whole are free from material mlsstatement, whether due to fraud or error. and to issue an audltorfs report that indudes our oplnlon. Reasonable assurance is 8 hlgh level of assurance, but is not a guarantee that an audit conducted in accordance with ISKS (UK) will ahvays detect a material misstatement when it exlsts. MSsstatements can arise from fraud or error and are consldered material rf, Indlvldually or in the aggregate, they could reasonably be expected to InfluerKe the economic decisions of users taken on the basis of these financial statements. Page17 Young Devon Indop•ndont Audltorfs Report to the Members of Young Devon The extent to whlch our procedures are capable of detecting irfegularilies, induding fraud 1$ detailed below: Irregularities. Induding fraud. are Instancas of rK)n-c￿nplIance with lawB and regulations. We deslgn procedures in line with our responsI￿11t1es. outlined above, to detect materlal mi5Statements in respect of Irregularities, including fraud. The extent lo whiGh our prowJur96 are Gapable of detecting Irregularitles, Includlng fraud 58 detaled belov. . We identffied areas of18ws and regulatkjns that could reasonably be expected to have a materkl effect on the financlal stalements from our general (x)mmerdal and sector experience and through discussion wlth the Trustees and Ottr￿r rnanagemant. We (xxnmunlcaled identiried laws and regulations throughout our team and remalned alert to any Indlcatk)ns of non-compliance throughout the audft. Thè Charity 18 subject to laws arKI regulatlons that govem the preparatlon of the flnanclal 8tatements. Indudlng financlal reportlng leglslatlon. The company Is also subject to other laws and regulatlons where the consequences of non-compllance could have a materlal Impact on the amounts or dtsclosures Within tho finandal ststements, indudlng employmen( antl-bflbery and antl-mon•y laundeflng. . Owlng lo the Inherenl Ilmftatlons of an audlt, there Is an unavoldable r15k that we may not have detected Some materlal mlsstatements In the financlal statements, even though we have properly planned and performed our audlt In accordarbce wlth auditing standards. In any audll, there remains a hlgher rlsk of non-detectlon of lThegularllles. as these may Invofve colluslon, forgory, Intentlonal omlssionB, mlsrepresentatlons, or the oveThide of Inlemal controls. We are not responslble for prevenllng non-compllance arKS cannot be expected to detect non-compliance wlth all laws and regulatlons. A8 part of an audlt In accordance wlth ISA8 (UK). we exerclse professlonal Judgement and malntaln professional sceptlclBm throughout the audiL We also: Identlfy and assess th6 rlsks of materlal mls8tatement of the financial Statements, whether due to fraud or error, deslgn and parfomi audit procedure8 respon8lve to those rfsks, and obtaln audrt evidence that Is sufflclent and appropriate to provlde a basls for our oplnlon. The rlsk of not detectlNJ a material misstatement resultlng from fraud is higher than for one resultlng from error, as fraud may Involve collu8lon, forgery, Intentlonal omissions. misrepresentat10r￿, or the overrlde of intemal control. Obtaln an understsndlng of Intemal conlrol relevant to the audlt In order lo deslgn audlt procedures that are approprlate in Ihe drGumst8nces, but not for the purpose of expresslng an oplnlon on the effedlveness of the group's Int8mal control. Evaluate the approprfatene88 of accountlng polldes used and the reasonableness of accountlng estimates and related dlsdosures made by the trustees. con¢￿de on the approprlateness of Ihe trustees use of the goiry concem basis of accountlng and, based on th8 audit evidence obtaSned, Whet￿r a materlal uncertalnty exists related to events or condltlons that may cast slgnfficant doubt on th8 group's or the parent charitable cornpanvs ablllty to continue as a golng Con￿rn. If we conthde that a material uncertainty exists, we are requlred to draw attenlion in our audltorfs report to the related disclosures in the financial statements or, if such disclosures are Inadequate, lo modify our opinion. Our conclusions are based on the audlt evidence oblained up to the date of our auditorfs report. However. fuiure events or condttlons may cause the group ar the parent charitable company to cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial statements, induding the dlsclosures, and Ythether the financial statements represent the underlying transactions and events In a manner that achieves fair presentation. Page 18 Young Devon Independent Audltofs Report to the Members of Young Devon We (xxnmunicate wlth those charged wlth govemance regarding, among 0th8r matter4 the planned Scope and timing of the audit and signlflcant audit findlngs, induding any Signif￿nt d8ficiencies In Internal control that we klentsfy durfry our audit. Use of our report This report is made sow to the charitable parent companys trustees. as a body. In accordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been urKlertaken so that we might state to the group's trustees those matters we are required to state to them in an auditorfs report and for no other PUTpose. To the fullest extent pemiitted by law. we do not accept or assume responslblllty to anyone other than the charltabl8 parent company and Its trustees as a body, for our audlt work. for thls report, or for the oplnlons we have fomled. csa wf Adam Croney ACA (Senior Statutory Audltor) For arKI on behalf of Westcotts (SW) LLP, Plym House 3 Longbrldge Road Marsh Mlll8 Plymouth Devon PL6 8LT 61.1 z].L+... Page19 Young Devon Consolldated Statement of Financlal Actlvttles for the Year Ended 31 March 2024 (Includlng Consolldated Incom8 and Expendlturo Account and Statement of Total Recognlsed Gains and Losses) Unrnstrldod R•strlct•d fund8 funds Total 2024 Total 2023 Nots Income and Endowm•nts Donations and legacies Other tradlng advities Inveslmant Incom8 Other Incom8 3.743,028 1,169.761 4.912,789 598 4.031 2.019 5,237.200 721 1,733 6,614 4,031 2,019 Totsl Incomo 3,749 676 1,169,761 4 919437 5 246 288 Expendltur• c￿. Charltab16 acdvllles Tradlng actmlles Total •xp•ndltur• N•t {oxp•nd1￿￿)nn¢Om• Transfers between funds (3.791.532> <1.202,394) 229 (4,993,926) 229 {5,162,263) 231 3.791.761 1.202.394 4,994.155 (42,085) 15.872 (32,633) 15,872 (74,718) 83,774 N•t mov•m•nt In funds (57.957) (16.761) (74,718) 83,774 Raconclllatlon of fund• Total fund8 brought forward Total fvnd• carrfod lo￿ard 1527 043 1597 120 1513 346 18 1,469,086 53,316 1,522 402 1597 120 l of the group'8 actlvltles derSve from ¢ontlnuSn9 operatlons durlng the above two wlod8. The fund8 breakdown for 2023 Is 8hown In ￿te 18. The notes on pages 20 to 40 form an Integral part of ltr￿se flnanclal statements. Page 20 Young Devon (Reglstratlon number: 3240655) Consolidated Balance Sheet as at 31 March 2024 Flx•d a•sets Tanglble assets Curr•nt a880ts Debtors Cash al bank and In hand 12 1,580,373 1,293.215 14 265.150 546,245 811,395 388.630 804,755 1,193,385 Crodltors: Amounts falllng du• wlthln on• year 15 794 287 813 136 N•t curront a88&s 17.108 380,249 Total a880ts1•8s currnnt Ilabllftlo8 1.597,481 1,673,464 Credltor•: Amounts falllng du• aft•r mor• than on• year 16 75.079 1.522.402 Funds ot tho group: Rutrlct•d Income funds R8stricted fund8 53.316 70,077 Unr￿tr1ct•d Income fund¥ Revaluallon resep4e Unrestrlcted fund8 393.485 1075 601 393,485 Total unrestricted fund8 1469 086 Total fund• 18 1,522,402 1597 120 Tha financlal statements on pages 20 to 40 w8r8 approved by the trust888, and authorised for18sue . and signed on their behalf by: V Flower Trustee The notes on pages 20 to 40 fomi an integral part of these financial slatements. Page 21 Young Devon (Reglstratlon number: 3240655) Balance Sheet as at 31 March 2024 2024 2023 Flxod au01• Tanglble assets Investments 12 13 1,580,373 1.293,215 1,580,374 1.293,216 Curr•nt a880ts Debtors Cash at bank arKI In hand 14 265.150 542,550 807.700 388,630 1.189.461 Cr•dltor•: Amounts tslllng du• wllhln on• year Not curront a888ts 15 794.287 813.136 13.413 376,325 Totsl ••••ts IM• ¢urront Ilablllll•• 1,593,787 1,669,541 Cr•dltor•: Amounts falllng du• aft•r mor• than on• y•ar 16 Not 8888t8 75.079 1.518.708 1,593,197 Funds of the GhaTIty: R••trfctsd In¢om fvnds Restrlcted funds 18 53,316 70,077 Unrnstrlctsd Incomo fund• Unrestrfcted funds ReVe￿atIon reserve 1,071,907 393.485 1,129,635 Total unrestrkted funds 1465 392 1523 120 T¢)tsl fund• 18 1,518,708 1,593,197 The fin lal statements on pages 20 to 40 were approved by the tfustees, and authorfsed for Issue . and signed on thelr behalf ty. Trustee The notes on pages 20 to 40 form an integral part of these financial stalements. Page 22 Young Devon Consolldated Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Cash flows from operatlng actfvttlas N8t rAsh (expendRureyincom6 Adjustments to cash flows from nonsses. except to which il offsats any prevlous revaluation gain. in whlch case the loss Is shown withln olher recognlsed galns and losses on th8 statement of Ilnanclal actfvitle8. D•preclatlon and amortlsallon Depreclatlon is c*ulated so as to wrlte off the cost or valuation of an asset, less Its resldual value, over the useful eG(Jnomic Ilfe of that asset as follows: As8•t Cla88 Freehold property Leasehold Improvements FixtUrn8 and frttlng8 D•pr•clallon m•thod and rat• 50 years the shorter of 10 years or the perlod of the lease 3 year8 Impalmient of flx•d a88ets A review for indlcators of impalrment 19 carrled out at each reporting dale, wlth the recoverable amount belng estlmated wh8re such Indicators exlst. Where the carylng value èxceeds the recoverable amount, the asset Is Impalred accordlngty. Prlor imp81nnents are also revlewed for possible reversal at each reportlng date. For the purp0888 of ImpalM￿nt testing, when It18 not PO88ible to 6stlmale lh8 r8coverable amount of an Indivldual assat, an estlmate 18 made of th8 recoverable amount of th8 cash￿eneratIng untt to whlch the asset belongs. The cash-generatlng unlt Is the smallest 'identifiable group of assets that Includes the asset arKI generates Gash Snflows that largely independent of the cash Inflow from olher assets or groups of assets. For Impaim*nt testlng of goodwlll. the goodwlll acqulred In a buslness combinallon Is, from the acqulsltion date. allocated to each crf the cash-98nerating unlts that are exp8Cted to benefft from the synergies of the combinallon, Irre8pectlve of whErthw other assets or Ilabllltles of the charlty ar8 asslgned to those unts. Pag8 27 Young Devon Notes to tho Financlal Statomonts for the Year Ended 31 March 2024 Govomm•nt grants Govemment grants are recognlsed at the falr value of the asset received or recelvabl8. Grants ere rm recognised until there 18 reasonable assurance that the tharlty wlll comply wlth the condlilons attaching to them and the grants will be received. Where the grant does nol impose speclfied future perf0m￿nCe-re1ated corKlitk)ns on the reclpknt, It Is recognlsed In income ￿en th8 grant proceeds are recelved or recelval)18. Where the grant does Impose specffied fuiure performancwelated corKllllons on tha raclplent, It 18 re￿gnISed In Income only when the perfoTmanc&related corKlllions have been met. Where grants recelved are prlor to satlsfylng the revenue recognltlon crlterfa, they are recognised as a Ilablllty. Flnanclal Instrumonts A tlnandal asset or a finan(4al Ilabllliy h recognlsed only when the entlty becom68 a party to the contractual provislons of the Sn8trumont. Recoqnldon •nd mM$ur•mont Basic financlal In8truments are Inltlally r•cogni8ed at the amount recelvable or payabkn Includlng any related transactlon co8t8, unle88 th8 arraroement conslitutes a flnancSng transaction, where ft is recognlsed at the present value of the future payments dlscounted at a markel rate of Interest for a slmllar debt Instrument. Current assets and current IlabS1ities are subsequently measured at the cash or other conslderatk)n expected to be pald or received and nol dl8counted. Finandal 888ets that are measured at cost or amortlsed cost aro revlewed for objectlve evklence of Impalnnent at the end of each reportlng date. If there Is objective avldence of Impalrment, an Impalrment 1089 Is recognl8ed under the approprlate headiThJ In th8 Statement of fin8nGlal actfvitles In whSch the Inltial galn wa8 recognlsed. For all oqulty Inslrurnents regardless of glgnlficance. and oth8r financSal a88ets that ar8 Indlvldualty slgnfficant, these are assessed Indfvldually for Imp85mi8nL Other financlal a88ets' are ellher assessed Indlvldually or grouped on the basls of 51mllar credlt rfsk characterlstks. Umlt•d by guarant•0 The tharfty Ss a company Ilmlted by guarantee. In the event of the charlty belng wound up, the Ilabllty In r8sp8Ct of the guarantee 58 limSted lo £10 per trust88. Page 28 Young Devon Notes to the Flnancial Statements for the Year Ended 31 March 2024 3 In¢ome from donatlons and legacle• Unr•stblcted funds Restrlctsd funds Tolal 2024 Donatlons Donatlon8 Grants Government grant8 30,378 30,378 3 712 650 3 743,028 Unrutrlct•d fund• 1169,761 1,169,761 Rostrlcted funds 4 882411 4 912 789 Total 2023 Donatlons Donallon8 Grants Govemment grants 68,796 68,796 3,587 051 3,655 847 1,581.353 1.581.353 5 237 2(Kl 4 Incom• from oth•r tradlng aGtlvltl•s Unre•trlcted fvnd• Total 2024 Totsl 2023 Youth centr8 Tralnlng 721 598 721 5 Investment Incom• Unrestrlcted funds Total 2024 Total 2023 Interest received 4.031 6 Othw Incomo Unr08tr1cted funds Total 2024 Total 2023 Insurance clalm Reimbursements 2.019 2.019 6,084 530 6.614 2.019 Page 29 Young Devon Notas to the Flnan¢lal Statoments for the Year Endod 31 March 2024 7 Expendlturo on charltablo actlvluos Total 2024 Total 2023 Core costs Volc• W•lIb￿n9 Accomm'n Skllls Dlrect project 5,250 541.904 89.483 1,492,375 1.802,745 351,474 3,541,327 3,651.455 11,909 6.704 $69,205 519,682 Staff c08ts Rales and utsiitles Proporty costs Travel costs Office admln IT& communlcatlon Marketlng and promotk)n Profe8sk)nal 31,418 122,464 8,858 17,581 91.762 288,978 32,005 123,180 413.235 67.675 27.831 116,844 469.987 79,961 42,688 1.440 6.515 3,807 1,394 18,903 39,745 1,931 19,324 48,859 7,245 117,104 146,953 9,088 1,877 12,659 18,312 17,424 165 17,$89 22,835 Govemance & audSt Flnance charges Internal charges Depreclallon 11,928 11,926 14,550 4.383 7.115 11,498 10,211 12,442 80.697 56.343 380.672 4.993.926 5.162.263 845,444 94,194 1545.315 2,128.301 Of the total expendlture £1.202.394 was restrl¢tsd {2023: £1,565,058) and £3,791,532 wa8 unrestriGted (2023: £3,597.436). Expenses are allocated on the basls of dlrect allocatlon to the partkular aGtMtles. General admlnlgtration cosls that allocated dlrecty are evenly betrween the areas. 8 Taxallon The charity is exempt from tax on Income and gains falling withln section 505 of the Taxes Act 1988 or section 252 of the Taxation of Charg6able Galns Act 1992 to thé extent that the8e are applled lo Its charitable objects. Page 30 Young Devon Notes to the Financlal Statements for the Year Ended 31 March 2024 9 N•t Incomlnwwtgolng r•sour Net (ouigoingyincoming resources for the year Indude: 2024 2023 Depredatlon of f￿ 88s8ts 78,940 10 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff costs durfng th• y•ar ￿r•. Wages and salarfe8 Social $8curfty costs P8n81on costs 2,923.308 223,841 2,974,246 224,895 58.101 3 257 242 3 205 978 The monthty average number of per8On8 (Including senior management I18ader8hlp team) employed by the group during the year expressed as ful tlme equfvalents was as follows: 2024 No 159 No 174 Average head count of employees The numbor of empbyees whose emoluments fell withln the followlng bands wa8: 2024 2023 No £60,001- £70,000 1 q Tru8t•es rèmunoratlon and 6xpons No tNstees, nor any persons connected with them, have rocelved any remunerallon from the group durSng the year (2023: £nll). No trustees have re¢elved any reimbursed expen808 or any olher b8nefit8 from the charlty durlng Ihe year (2023: £nll). Pag8 31 Young Devon Notos to th• Financlal Stat•monts for the Year Ended 31 March 2024 12 Tanglblo fix•d assets Group Frn•hold PrO￿rtY Loasohold FlxtUrn8 and Improvom•nt8 fittlngs Total Cost At 1 Aprll 2023 Addlilons 1,386.910 313 011 262,726 437,544 2,087.180 366 098 At 31 March 2024 1699 921 283 606 D•pr•clallon At 1 Aprll 2023 Charge for lh8 year At 31 March 2024 124,366 243,718 425.881 12,300 793.965 78.940 176 705 258 019 438.181 872 905 Not book valu• At 31 March 2024 1,523.216 25,587 31,$70 At 31 March 2023 11.663 1.293.215 The property on Wllder Road has been by revalued Underwood WTlght Chartered Surveyors, an independent valuer. In October 2019 with the v81ue belng applled followlng completion of the wrcha88 In Jun• 2020. The charfty recognlses the 88m8 tsnglble fixed a88et8 a8 the group. In respect of langlbl• f￿ad a88818 held at va￿atIon, Ihe aggregale cosl, d8prachtion 8fKI comparable carrylng amount that would have been recognlsed If Ihe assels had been carried under the hlstorfcal cost model are as follow8: 2024 2023 At 31 March 2023 Aggregate cost Aggregate depreclatlon Carrylng valuo 1.300,161 (170.430) 1129,731 985,395 {116.336) 869,059 Page 32 Young Devon Notes to the Flnancial Statements for the Yaar Ended 31 March 2024 13 Invostmgnt onthles Subsldiary undortaklng• Class of 8har• Percentage of •h•rn8 hold Young Devon Trading Lld. 1 Ordlnary Share of £1 Young Devon Tradlng Llmited Is the ￿OllY owned trading subsidiary of the charity. The company Is Incorporaled In the UK, Its ccffipany number 18 06958521. The reglstered address is 10 Eme Road, Ivybridge, Devon. PL21 OAB. The subsidia￿$ finandal Ststements have been consolldated wlth the charity's for the year to 31 Marth 2024. In the year, the subsldlary recelved no trading income (2023: £nll) and incurred expendlture of £229 (2023: £231 } whlch resulted In a loss of £229 {2023: £231 Ios8). At the year4nd, the gubsldlary had reserves of £3.694 (2023: reserves of £3.924). 14 Dobtors Group 2024 Charlty 2023 2023 Trade debtor8 Prepayment8 AccNed Income Other debtorn 84.178 35,369 137.933 247,464 29,413 104,083 84,178 35,369 137,933 7.670 265.1 $0 247,464 29,413 104.083 265 150 388,630 388,630 Page 33 Young Devon Notes to th• Flnanclal Statements for the Year Endad 31 March 2024 15 Credltors: amounts falllng duo wlthln OM year Group 2024 Charfty 2024 2023 2023 Bank loans Trade Creditors Other taxation and soclal security Accruals Deferred Incom8 Other credltor8 1.341 122,835 1,380 131,381 1,341 122.835 1.380 131,381 51.827 129,142 474,642 51,087 172,042 439,205 51,827 129.142 474.642 14.500 794,287 51.087 172,042 439,205 18.041 813,136 794,287 813,136 Daf•Thed Incom• 2024 2023 Deferred Incom8 ￿ 1 Aprfl 2023 Resources deferred In the perlod Amounts released from prevlou8 perlods Deferred Income at year and (439,205) (795.519) 760.082 (388,865) (439,205) 388.865 474.642 439.205 16 Cr•dltorn: amounts falllng du• aft•r om y•ar Group 2024 Charlty 2024 2023 2023 Bank loa The bank loan Is secured agaln8t the property on ￿der Road. 17 Govemmont grants 2024 2023 R•cognl8ed In InGom• from donatlon8 and l•gaclM: Govemment grant income 13,856 Page 34 Young Devon Notes to tho Flnanclal Statements for the Year Ended 31 March 2024 18 Funds Gn>up Balance at 31 March 2024 Balance at Incomlng Resource8 l Aprll 2023 r•sourc•s gxpend•d Transfers Unrestrlcted funds General funds Revaluation reserve Deslgnated fvnds Total unr••trlctod fund8 853,558 3,749,676 (3,791,761) {15,872) 393.485 280 000 795,601 393,485 280.000 1527 043 3 749 676 3 791761 Group and charlty rnstrlct•d fvnds Ro•trlct•d funds SWEF {Soulh West Enterp Fund) ECC Homeless Prevenllon Sexual Health Emollonal Health and Wellbelng Sldmouth Youth Clubs YES Pllot Hubs OPPC Targeted Youth Work Exeter YES Centre Wellbeing Practltloner DCC Domestic Abuse EDDC Homeless Prevantlon Dolng What Matter8 Communlty Connector8 Small Fund PCMHI Char¥Jemaker Fund Total rnstrlctsd funds 32,564 {32,564) 143,152 (136,248) 10,000 (11,540) 614.733 (666,556) 38,125 (41,711) 443 {443) (9,884) 542 (530) 126,239 (126.239) 59,988 (41.885) 47,760 (43,844) (9,762) (60,730) (2,525) (17.380) 891 15,559 51,823 7,595 14.019 3.586 16 18,101 3,916 9,762 60,730 2,000 2.524 1,999 7,670 25,050 553 70 077 1189 761 1202 394 53.316 Total funds 1597 120 4 919 437 1522 402 Pag8 35 Young Devon Notos to tho Financial Statements for the Year Ended 31 March 2024 Balanu at 31 March Balan￿ at 1 Incomlng R•80urc Aprfl 2022 r•source8 oxp•ndod Transfars Unmtric1￿ fund• General funds Revaluallon reserve Deslgnated fund8 799.486 393.485 3,664,915 (3.597.436) (13,40n 853,558 393.485 Total unrnstrlcted funds 1472.971 3.664.915 3 597 436 Re•trfGtsd lund• Changemaker Fund SWEF (Soulh West Enterpr188 Fund) ECC Homeless Prgvenllon Sexual Heallh Earfy Help Emotlonal Health arKI Wembelng SIdm￿th Youth Clubs OPPC Targeted Youth Work Ex•tor YES Centre Welbelng Practitloner EDDC Homele88 Prevenllon Communlty Connectors Small Fund Covld Fundlng PPE & Food Grant Plymouth Bulldlng (Small Fund) Victlm Support 14.447 (14.447) 27,373 130,554 (27,373) (125,674) (18,441) (559,198) 3,459 {7,648) 691 15,559 10,559 543,653 295,209 45.126 (243.387) (50,028) 51,823 2.761 766 192,268 {2,761) (1,037) {192,268) 275 47,760 66,944 {55,408) {74,385) 7,648 7,441 2,000 4.988 (5,182) (4.806) 31 (36) 173492 878 Total restrlcted funds 1.581353 1,565 058 13.407 Total funds 5,162,494 1.597 120 Page 36 Young Devon Notes to the Flnancial Statements for the Year Ended 31 March 2024 Charlty Balance at 31 March 2024 Balance at 1 Aprll 2023 Incomlng Resources rnsources •xponded Trnnsfern Unrnstrlcted funds General funds Revaluallon re8eNe Designated funds Totsl funds 849.635 393,485 280,(X)O 3,749,676 (3,793,257) (14,147) 791,907 393,485 280,000 1523 120 3.749,676 3 793 257 1465 392 Balance at 31 March 2023 Balanc• at 1 April 2022 Incomlng R•sourc•s r•8ourc•8 •xpend8d Tran8f•r8 Unr••trf¢tsd funds General funds Deslgnated funds Revaluation reserve 795,332 280,000 393 485 3,664,915 (3,597,205) (13,407) 849,635 280,000 393 485 Total fvnd8 1.468.817 3,597.205 1,523.120 Reslrfcted funds represent specific projects whlch are restrlcted by vlrtue of their funding contrads. Surpluses arKI deficits arfsing on these fund8 are transferred to unrestrlcted funds in accordance with accounllng polld88. SWEF (South West Enterpr588 FurKI) Businegs Grants for Young Entreprengur8 Aged 18-30 and support iri education. Employlng staff to dellver h¢)mal888ness praventlon across Exeter CounGII area to young people at risk of homele8sne88. Employing stsff to dellver homele83nesg preventlon across Teignbrldge Council area to young people at rlsk of homelessness. To provlde a sexual health serlce in Ivybridge and Newton Abbot. Chlldren and Famlly Health Devon provides communlty seNlces for chlldren, young people and In thelr famllles In Devon (excluding Plymouth). Counselling and mental servlces for young people across Devon. ECC Hom81888 Prevention T8lgnbridge Homeless Prevention Sexual Health Chlldren and Famlly Health Devon Wellbelng DCC Page 37 Young Devon Notes to the Financial Statements for the Year Ended 31 March 2024 Sldmuth Youth Clubs To deliver 8e&8ion to young people attendlng youth dubs. Targeled Sup[￿1 is a service to support young people who may be 8xperfendng challeng8s. This could be wlth the pressures of being a teenager, such as d[fr￿Ult relalionships. feeling low, angry or confused about your future. OPPC Tawed Youih Work 12 month Pllot to setup to support YES Hubs across Devon - YES Hubs provlde saNices arKI advlce lo address varfety of Issues you may b8 faclng, includlng homel888ness, domestlc abu8a, nutrition, CV Miting and Intervlaw 8kS11s. Funds ralsed to 8UPPOrt young people activitles Exeter YES. Improvlng Access to PsythologlGal Therapy program for th6 recruitment and tralnlNJ of pgychologlcal wellbelng practltlonern to access and support people wlth common mental health pmblems. Employlng 8taff to dellv8r home1￿3n8$S pravenllon acr088 East Devon Dlstrlct Coundl io young people at rlsk of homelessn&88. YES Pilot Hubs Exeter Yes Centre (Small Fund) Wellbelng Practitioner EDOC Homeless Preventlon DCC Domesllc Abu8e Provldlng supwt to young women have experfenced domestic abuse In Devon. Small Fund8 Fund8 ralsed to support young people actlvltSe8. Intemal project to recrult and support volunteers In and for Young D￿￿n. The programme 18 deslgned as a non-medlcal approach to help young people overcome lonellness and anxlety In the Exeter area. Funds ralsed lo support young peopl? actlvthes Young Plymouth. The Primary Care Mental Health (PCMH) servlce cover8 GP Surgerles In Devon. The serAGe prov5des specialsl mental health 8UPPOrt for GP surgeri8s so thal young people wlth mental 111 health can access prompt advlce and 8￿port, receive help in a communlty settlng and experience a more lolned-up approach to care. Funds to support young people (poverty 8nd homele88ness). t>olng What Matter8 Communlty Connector8 Ptymouth 8ulldSng (Small Fund) Prlmary Care Mentsl Health Integratlon Changemaker Fund Page 38 Young Devon Notes to the Flnanclal Statsmènts for the Year Ended 31 March 2024 19 Analysls of n•t assets botweon funds Group Unrnstrlcted fund8 Totsl 2024 Tanglble flxed assets Currènt assots Current liabllltle8 Credltor8 over 1 year 1.580,373 811,395 (794,287) 1.580,373 811,395 (794,287) Total net assets 1522 402 Unrn•trlct•d RMtrlct•d fund• lund8 Total 2023 Tanglble fixed assets Current assets Current IlabllltSe8 Credllors over 1 year Total net asset8 1,293,215 881,081 {570,909) 1.293,215 1,193,385 (813,136) 312,304 (242.227) 1527 043 Charlty Unroslrfctod fund8 Tolal 2024 Tanglble fixed assets Current assets Current Ilabilide8 Credttors ovèr 1 year Total net a88ets 1,580,374 807,700 {794,287) 75.079 1,580,374 807,700 (794,287) 1,518.708 1518,708 Unrnstrlcted funds R￿trIcted funds Total 2023 Tangible I￿ed assets Current assets Current liabllrtles Credltors over 1 year 1,293,216 877,157 {570.909) 1,293,216 1,189,461 (813.136) 312,304 (242,227) Total net assets 1,523,120 70.077 1593,197 Page 39 Young Devon Notes to the Flnanclal Statemènts for tha Year Ended 31 March 2024 20 Analys1$ of not funds Group Flnanclng At 31 March flows 2024 At 1 Aprll 2023 Cash at bank and In hand Debt due wlthln one year Debt due after more than one year 804.755 (1.380) {258.510) 39 1,265 546.245 (1.341) 75,079 Net debt 727,031 257,206 469.825 21 Obllgallon• und•r1••8•8 and hlro pur¢ha•• contracts Op•rallng l•a•• commltm•nts Total future minlmum lease payments under non￿ancelIable operallng18a886 are 88 follows: Group Charfty 2024 2024 2023 othor withln one year Belween one and five years After five years (296.196) (382,937) 118.680 97,813 {226,342) (260,090) 255.850 742 282 (296.196) {382,937) 118.680 797,813 (226,342) (260,090) 255.850 22 R￿ated party trJn¥aGllon$ Young Devon Tradlng Umlted are the wholty owned tradlng subsldlary of the charlty. The regl8tered address IS 10 Erme Road, Ivybrldge. Devon, PL21 OAB. Al Ihe end of the reportlrva perfod the subsldlary had debts owing to Ihe parent charlty (2023: £NII). The 8ubsklSarf8 flnanclal ststement8 have been cons0￿dated wlth the charws for the yaar to 31 March 2024. Page 40